RBC Bearings Incorporated (NYSE:RBC) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of RBC Bearings Incorporated (NYSE:RBC) have earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $489.1667.

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $527.00 price target on shares of RBC Bearings and gave the stock a “buy” rating in a research note on Wednesday, December 17th. KeyCorp raised their target price on shares of RBC Bearings from $475.00 to $535.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Truist Financial set a $542.00 price target on shares of RBC Bearings in a research report on Friday, January 9th. Finally, Bank of America upgraded RBC Bearings from a “neutral” rating to a “buy” rating and raised their price objective for the company from $390.00 to $500.00 in a report on Thursday, November 6th.

RBC Bearings Price Performance

RBC opened at $499.44 on Friday. The stock has a market cap of $15.79 billion, a P/E ratio of 60.98, a P/E/G ratio of 3.41 and a beta of 1.53. RBC Bearings has a 12 month low of $297.28 and a 12 month high of $515.95. The company has a quick ratio of 1.13, a current ratio of 3.18 and a debt-to-equity ratio of 0.34. The company has a fifty day simple moving average of $467.04 and a 200 day simple moving average of $421.25.

RBC Bearings (NYSE:RBC) last posted its earnings results on Friday, October 31st. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.15. The business had revenue of $455.30 million during the quarter, compared to analysts’ expectations of $450.27 million. RBC Bearings had a return on equity of 10.47% and a net margin of 15.03%.RBC Bearings’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.29 EPS. On average, research analysts expect that RBC Bearings will post 9.16 EPS for the current year.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, Director Steven H. Kaplan sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $443.00, for a total transaction of $310,100.00. Following the transaction, the director owned 1,999 shares of the company’s stock, valued at $885,557. The trade was a 25.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On RBC Bearings

Hedge funds have recently bought and sold shares of the company. Citizens Financial Group Inc. RI bought a new stake in RBC Bearings in the 4th quarter valued at $207,000. New York State Teachers Retirement System increased its holdings in shares of RBC Bearings by 15.9% in the fourth quarter. New York State Teachers Retirement System now owns 7,300 shares of the industrial products company’s stock valued at $3,274,000 after purchasing an additional 1,000 shares during the last quarter. Jennison Associates LLC raised its position in shares of RBC Bearings by 9.1% in the fourth quarter. Jennison Associates LLC now owns 192,945 shares of the industrial products company’s stock valued at $86,522,000 after purchasing an additional 16,023 shares during the period. M&T Bank Corp lifted its stake in shares of RBC Bearings by 5.7% during the 4th quarter. M&T Bank Corp now owns 5,286 shares of the industrial products company’s stock worth $2,371,000 after buying an additional 284 shares during the last quarter. Finally, Comerica Bank boosted its holdings in shares of RBC Bearings by 19.5% during the 4th quarter. Comerica Bank now owns 90,283 shares of the industrial products company’s stock worth $40,486,000 after buying an additional 14,747 shares during the period.

About RBC Bearings

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.